Control Print MOU with KBA-Metronic

Control Print India Ltd has informed that the Company has entered into MOU for technical collaboration with KBA-Metronic AG, Germany, the undisputed worldwide technology leader in Coding, Marking and Printing. The venture will lead to Industrial Ink-jet Printers manufactured in India based on know-how transferred from KBA-Metronic. KBA- Metronic AG is a wholly owned subsidiary of Koenig & Bauer AG (KBA), the world's third largest printing equipment manufacturer listed on the Deutsche Borse, with sales of over $ 2.4 billion (Rs 10,000 crores), founded 190 years ago.

KBA-Metronic's best-in-class industrial inkjet printer range will provide proven benefits to the Indian Customers with its legendary reliability and cost-efficiency. The Company will also be manufacturing KBA-Metronic's wide range of specialised ink formulations for various applications.

With this tie-up, the Company will be the first Indian manufacturer of industrial inkjet printers in India. The Company has already set up a manufacturing and assembly facility for marking and coding devices at their facility in Nalagarh, Himachal Pradesh which shall he expanded for production of the Industrial Ink-jet Printers which is expected to commence in this quarter itself. The Company is targeting further increases of its already significant market share. The Company will also service the South Asian market. In addition the Company will re-export printers to other emerging markets in conjunction with KBA-Metronic.

Control Print

With reference to the news item appearing in a leading financial daily titled "Surges on talk of capital gain" stating "Company is on the verge of securing over Rs 25/- Crore from Videojet as one-time settlement for termination of its distribution arrangement", Control Print India Ltd has clarified that the Company has not accepted any amount from Videojet and shall continue to be Coding and Marking Solution Provider as already stated.

As regard to news "The Company is planning to develop its 1.5 acres in Mumbai for commercial purpose" the Company does not comment on speculative media reports.

The Company keeps on evaluating growth and diversification opportunities. The Company shall intimate the Stock Exchange, shareholders and Media about any material development in the business of the Company.

Control Print India

Control Print India Ltd has informed BSE that the Company has recently commenced commercial production of Conprint Hot Ink Coders and its consumables Ink Rolls at Nalagarh in HP. The products have been well received as at par with similar imported products and the Company has received repeat orders from all the users. Encouraged by this, the Company realized that instead of being distributor of Videojet & Marsh, it would be much better for the future of Control Print to become a manufacturer of Ink-jet Printers and their consumables to participate in India's economic growth.

Therefore, the Company has decided to end its distribution arrangement for Videojet & Marsh products.

The Company has already identified and negotiated for technology transfer agreements for Inks and related Consumables and Small Character Inkjet Printers (CIJ) for manufacturing in India.

The Company has also identified and are in advanced negotiation for technology for Large Character Drop on Demand Inkjet Printers. Once the Company stabilize these products, it shall source TTO & Laser Marking technology.